| TO: | Honorable John T. Smithee, Chair, House Committee on Insurance |
| FROM: | John S O'Brien, Director, Legislative Budget Board |
| IN RE: | HB1157 by Hancock (Relating to the Texas Life, Accident, Health, and Hospital Service Insurance Guaranty Association.), As Introduced |
The bill would amend the Insurance Code relating to Texas Life, Accident, Health, and Hospital Service Insurance Guaranty Association.
Based on the analysis provided by Texas Department of Insurance, it is assumed that any costs associated with the implementation of this bill would be absorbed within existing agency resources. Also based on information provided by TDI, this analysis assumes that implementation of the bill would result in a small one-time revenue gain ($24,150 in fiscal year 2012) in General Revenue-Dedicated Texas Department of Insurance Fund 36 from filing fees. Since General Revenue-Dedicated Texas Department of Insurance Fund 36 is a self-leveling account, this analysis also assumes that any additional revenue resulting from the implementation of the bill would accumulate in the account fund balances and that the department would adjust the assessment of the maintenance tax or other fees accordingly in the following year.
| Source Agencies: | 454 Department of Insurance
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| LBB Staff: | JOB, KJG, MW, CH
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